THE STATE OF THE MARKET

We are in the midst of a housing inventory shortage. We have a two week supply in most housing types. This puts huge pressure on buyers to have the winning contract. Escalation clauses, the waiving of conditions,apparisal gap clauses and cash offers are all being used to win. Cash works in the buyers favor, as it eliminates several key conditions in the offer. Bridge financing on an existing buyers home can position the buyer with cash and sucess. I have many outlets to find bridge financing. I often get word of upcoming listings which can cut down on competition. I also direct mail in areas buyers are interested in to find a suitable home on a one on one basis. It won't be discounted but it should be at true market price. Sellers are calling the shots, conditioning offers on the seller finding a satisfactory replacement home or a lengthy leaseback post closing or both. Use my experience to help you navigate a difficult market.

Tom Kahn

47 Years of Real Estate Experience

303-579-4678

Founder/Managing Broker

Get to Know 11229 N 75th

Crosswinds Ranch - Premier compound in the heart of beautiful St. Vrain Valley. One of a kind estate with high end finishes in all regards. Tropical style pool with waterfall and hot tub. Tennis court, fishing pond, gorgeously restored 2800 SqFt Victorian Farmhouse + 3200 SqFt outbuilding with office, rec room & gym. Heavy duty irrigation system with extensive water rights. Over-sized garage with room for 3 cars + mechanics shop + addtl. 2-car garage. South property line is the St Vrain River.

Let's play nice

In this super competitive market that currently exists in Boulder County, it would help if everybody remembered the golden rule. The game has gotten a bit chippy - elbowed are flying higher, hits against the boards are harder and more vicious. There will be a turn around. Having sold real estate for almost 45 years, I've seen the balance go to seller's market to buyer's market many a time. It would be really nice to have a balanced market with an equal numbers of buyers and sellers. Good luck with that! In the last two weeks of showing properties, I've only had to use a lockbox on a couple of occasions. Other houses, the broker in the house before me hands me the key, and I hand it to the broker following me. The net result is multiple offers, pricing getting bid up, and the use of very aggressive buyer escalation clauses. 

With all this going on, it helps if brokers will continue the spirit of cooperation that has always made our industry unique. The very essence of the multiple listing service is to give everybody a fair shot at the shared existing inventory. This is the arena where buyers, sellers, brokers need to tune up their memory on the essence of the golden rule to make everything work a little more smoothly. 

Let's play nice. 

Millennials - They're Coming Our Way

Millennials will change the way we buy, sell and think about everything. 

Check out this interesting article on the Millennial Invasion. 

http://www.goldmansachs.com/our-thinking/outlook/millennials/

The State of The Market Today

Let's be realistic - the state of the market is a frenzy. Multiple offers on just about everything. New prices being calculated daily for Martin Park, Newlands, Chautauqua, and almost every product type in Boulder.  We are at a point that if a product is on the market for 10 days or more, the buying public is asking what is wrong with it. The bloom is off the rose in that short of a period. Escalation clauses have become commonplace where properties get bid up daily.  

What can buyers do to help them in this frenzy? For starters you must be pre-qualified or pre-approved.  With all offers except for cash offers, it is anticipated will be accompanied by a prequal letter.  Buyers could consider waiving appraisal, or stating that they will make up the difference in cash if the property does not appraise.  Buyers could also consider selecting specific performance in their contract to separate themselves from the pack.  After all, specific performance is an equal playing field with the rights of the buyers and sellers.  

Most importantly, pick an experienced broker who can guide you through this maze and be aware of properties on and off the market.  Off market intel is key in this kind of a market, and we have some of the best insight around. 

Let our 50 years of combined experience work for you.